Wilmington Savings Fund Society FSB Has $2.01 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Wilmington Savings Fund Society FSB increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 340.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,991 shares of the bank’s stock after acquiring an additional 21,641 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Bank of New York Mellon were worth $2,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in Bank of New York Mellon in the third quarter valued at approximately $2,617,000. SkyView Investment Advisors LLC raised its holdings in shares of Bank of New York Mellon by 3.6% during the third quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank’s stock worth $705,000 after acquiring an additional 345 shares during the period. McIlrath & Eck LLC lifted its position in Bank of New York Mellon by 3.8% in the 3rd quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank’s stock valued at $493,000 after acquiring an additional 254 shares in the last quarter. TCW Group Inc. boosted its stake in Bank of New York Mellon by 9.0% in the 3rd quarter. TCW Group Inc. now owns 1,012,870 shares of the bank’s stock worth $72,785,000 after purchasing an additional 83,207 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in Bank of New York Mellon by 14.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,486 shares of the bank’s stock worth $982,000 after purchasing an additional 1,691 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of research reports. UBS Group boosted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Barclays increased their target price on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Bank of New York Mellon Stock Performance

Shares of BK opened at $78.83 on Friday. The company has a market cap of $57.32 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The firm has a 50-day moving average of $77.82 and a 200-day moving average of $68.96. The Bank of New York Mellon Co. has a one year low of $50.87 and a one year high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 40.87%.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.